Topic: It's over for the shills and bears - BTC market cap about to explode - page 2. (Read 6485 times)

The price is not going to rise much above $500, the backlog of transactions won't let it.

I think the short squeeze will push the price much higher than the last $1200 peak. But the price has to rise to $1200 first.

Looks like you picked wrong.

If I have to pick BTC hitting $600 billion or become obsolete.
I would choose the latter lol..

You are a paid shill account.  Everyone knows it.  Stop being a moron and pretending like you fool anyone.  All it takes is anyone clicking your post history to instantly discover it.  You were even shilling saying Bitcoin would crash when it was $200 and up to $500 it goes the next day.


It's obvious Bitcoin will be used for more high value transactions in the future whether it be for things like houses, yachts, million dollar art auctions, settlement purposes, or just people using it as a counterparty risk free version of a bank.  $10k is hardly a high estimate.  The only options I see is Bitcoin will hit $600 billion or higher market cap at the very least in the future or it won't exist.

blah blah blah

This isn't the $10k thread. I think a $1600 price tag is realistic eventually, though I don't think it will be soon.

"I can agree with all that. That is how bubbles form. Will it be from halving? I doubt it. Cool if it does because I could use some new toys, but I have my doubts that this will come within the next 9-12 months."

I doubt that this will happen in the next 9-12 YEARS. I don't think it will happen in our life time either. Because of China. China has the most amount of bitcoins, they have most amount of hashrate, they control the production of the means to sustain bitcoins, they control the trades of bitcoins, they practically own it. It's in their interest to milk the whole game, to mitigate the risk and to maximize the profit, they will incrementally increase and decrease the bitcoin price.

In 2010 and 2011, there was much more uncertainty and far less awareness. That is the reason why every coin wasn't bought up and hoarded like my precious. There was also only a few 10 thousands of us here and not everyone was so sure Bitcoin would even survive the 2011 bear market, let alone put every Dollar they owned into some ultra high risk investment. I mined back then on a handful of pc's and was bringing in ~10BTC/day. Difficulty was 100k. There was little confidence of the longevity compared to today. Hell, there was only 6 million coins in existence. You think they should have been worth $1000 back then? Add the 2013 rally's and would you pay ~$45k today? Bitcoin is not worth that yet. In fact, it's only worth what someone is willing to pay, and by the looks of it, no one seems to want to pay anywhere near $500 without some confirmation.

It was also known that it takes 130 years to mine every bit of the 21M Bitcoins.

The speculative aspect of halving may not be priced in, but the true current utility value likely is (Otherwise, price would be rising consistently if demand was high enough to outpace supply). Depending on how long the speculative hype of halving lasts determines where the resulting pull back lands. That number is an unknown until it happens. The longer it takes, the potentially higher it could be since more users may come aboard and that raises demand.
The next halving is too far away to be of any significance on price right now. I'm no proponent to efficient market hypothesis, but it isn't exactly lagging either. Front runners (especially those who were around for the first halving) cause the rally to happen earlier and unless new money comes in to support, there will be nothing to propel the price higher once they all buy. So you end up with a pre halving rally, and post halving dumps. Speculation is then over and the equilibrium will take time to achieve.

Man, come on.  Shooting stars have build up periods.  I didn't mean straight from $450 to $4000.  Of course, the max people can take it to might be something like $2000 since that's a 10x off the bear market accumulation period.  So, maybe you dump at $2k and it turns out well and you rebuy at $1600 or something, or maybe it keeps going higher while you watch and smash your keyboard over your head.

+10x like $4k?
If that is what you meant, I seriously doubt someone is going to just buy like that. That would be a worse move than a 5% dump at market. For the dumping side, it is arguable that if you have a shitton of coins, that 3-5k dump is just a small portion of their coins and the slippage is not much in relation. But to buy out the order book in one go? I just don't see that kind of thing happening, ever.

Mat doesn't even do TA.  He draws completely arbitrary lines at random while ignoring things like the marginal costs of all mining participants averaged together having a relation to price floors.  There is a supply and demand dynamic on the other side of that equation, but 75% of Bitcoin has already been mined, the rest takes a long time to mine, and post halving inflation is 4%.  The market has already absorbed most of the supply.  

Everybody knows what happens after a market has a long bear period (the decline from $1200 and then the $200-420 level of long protracted sideways movement).  People always attempt to corner the market then explode the price upwards after.  Going from $230 to $420 is not what I consider a big movement for such a long, drawn out accumulation period.  We all know the big, post-bear market move is yet to come.  You can easily have a +10x shooting star coming out of those bear market lows.

So, you can use data that is 3 years old to justify your opinion, but when Matt or I do it, "Bitcoin is not the same as it was back then"? Double standard much?

r0ach, you take on the habit of Anonymint to repost your "wisdoms" all over the forum